) (25) (11)% (100) (97) 3% Cash Flow After Strategic Spending (216) (362) 21 (439) 71 Net financial costs (20) (42) (23) (10)% (127) (126) 1% Income tax (25) (17) (11) 124% (82) (52) 58% Dividends and

the impact of US sanction which led to the depreciation of Russian ruble. However, domestic demand continued to expand, private consumption expanded well in most spending categories thanks to the

enterprises’ spending, and private investments driven by increased manufacturing capacities in many industries. Overall, the Thai economy will continue to grow, which in turn could be affected by the

attributed mainly by number of factors, namely 1.) Growth in Tourism sector from visa-on-arrival measure and Hong Kong disturbance which reflects an increasing in tourists 2.) Government spending for

spending rewards points (November 2019) 10. The Company received the Superbrands Thailand 2018 Award. The Award was voted by consumers throughout Thailand, marketers and journalists and a final vote was made

postponement must not hinder the core business, and has to follow the principles of law and must give utmost regard to safety. As such, the company group was able to decrease OPEX spending by approximately 20

at a satisfactory rate as seen by the 6.4 percent increase in the gross domestic product. The growth was stimulated by the increasing private sector consumption, public sector spending, and investments

Investor Strategies for Incorporating ESG Considerations into Corporate Interactions www.blackrock.com www.ceres.org Century21st Engagement Investor Strategies for Incorporating ESG Considerations into Corporate Interactions [ 5 ] FOREWORD The Value of Our Voice ......................................................................................................................................... 1 How ESG Megatrends Are Shaping Valuation ...........................................................

% Maintenance capex (113) (101) 12% (42) (22) (30) 42% Cash Flow After Strategic Spending (1,383) (21) (639) (465) (1) Net financial costs (154) (128) 20% (68) (20) (42) 65% Dividends and PERP interest (311) (154

% in 2017 which exceeds the previous forecast at 3.5%, after seeing a continuous growth from export and tourism sectors supporting with the injection from government spending in which collectively lead